Tirlán has today (Friday, May 16) announced that it will pay a total of 50.08c/L (including VAT) for April creamery milk supplies at 3.6% butterfat and 3.3% protein.

This is consistent with the co-op's March supplies, with no change in price.

The base milk price for April is 49.58 c/L (including VAT), which is also unchanged from March.

The price also consists of a Sustainability Action Payment of 0.5c/L (including VAT) to all qualifying suppliers. The base price and Sustainability Action Payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.

The actual average price paid by Tirlán for April creamery milk, based on delivered constituents will be 54.99 c/L (including VAT).

Tirlán Chairperson John Murphy said that while markets are "relatively stable" there has been a decline in returns for some individual products.

Murphy said: "We are pleased to be able to maintain farm gate milk price at over 50c/L for the high-volume month of April.

"The outcome of trade discussions over the coming period is likely to impact on market direction. Consumer reaction to higher prices will also need to be closely watched," Murphy added.

The board of Tirlán has said it will continue to monitor developments on a monthly basis.

Earlier this week (May 12), it was announced that over 11,000 Tirlán co-op members would benefit from a spin-out of €173 million worth of Glanbia plc shares.

The board of Tirlán Co-operative Society Limited has approved the distribution of 15 million Glanbia plc shares to co-op members.

Based on a Glanbia plc closing share price of €11.51 as of last Friday (May 9), this will be worth approximately €5,156 for every 1,000 shares that a member holds in Tirlán co-op, or over €16,804 to an average active Tirlán co-op member.

The co-op said the spin-out was “overwhelmingly approved” by members of Tirlán at a special general meeting held on October 4, 2024.

Following the completion of the spin-out, Tirlán co-op will remain the largest individual shareholder in Glanbia plc, with 23.7% of the issued share capital.